Electronic and cash payment systems coexist, with cashless society trends emerging alongside reliable and secure cash practices.
Electronic payments have become increasingly prevalent in today's financial landscape, offering various convenient options like debit cards, internet banking, and mobile banking. These methods do not involve the creation of money, with the central bank retaining control over the money supply.
Despite the rise of e-payments, cash payment systems are still widely used due to their easy accessibility and portability. Cash remains relevant for its universal acceptance and the perception of low risk of criminal activities associated with it.
The transition towards a cashless society is underway, with electronic forms of money serving as a modern version of credit money, enhancing the efficiency and flexibility of financial transactions.
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